5i Research was founded by Peter Hodson; one of the "Warren Buffetts of Canada" according to the Globe and Mail.

The Canadian Insider blog discusses news and insight found among executive and significant shareholder filings in Canada.

Follow Nicholas Winton who runs for market insight and great stock ideas.

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Shopify rallies $8 after being featured in Insights

On Monday night we published and distributed our weekly Canadian Insider Insights newsletter, Will the bulls keep up the energy to win? Our insider of the week was Shopify (SHOP) CEO Tobias Lütke. In the report, we highlighted that thanks in part to his large holdings in the company, the stock ranked very high in terms of insider commitment.

Shopify CEO Tobias Lütke*

We suggested this was bad news for short-sellers as our INK short signal for the stock was pointing to a potential short-squeeze. Generally, we believe short-selling strategies are best targeted at stocks that do not have strong insider commitment rankings. More often than not, we expect the insiders to come out on top of a short-selling challenge.

Shorts hooked on High Liner Foods

High Liner Foods is the most shorted stock on the TSX based on IIROC and INK data. Shorts added to their positions as the stock rallied 11.8% since March 15th. However, their bets may still pay off. Based on INK signals, the stock appears at risk of a bearish set up based on a combination of relatively large short-selling and average insider commitment.

Will James Bay lead the way for a junior resource stock revival?

In his April 4th Discovery Watch broadcast, John Kaiser bemoans the continued grinding lower of junior resource stocks. He closely tracks the state of the junior resource area on his website, and he does not like what he sees. Looking at the average traded price and traded value of the junior resource stocks on the TSX Venture exchange, he notes that the traded value of resource stock is a fraction of the total traded value on the exchange, with the rest being non-resource including cannabis-related stocks:

What's really discouraging is that not only is there no rise in the traded value of resource juniors, but the traded price is flat and has been flat for some time now. We are now in the 8th year of a junior resource sector bear market

For a turnaround, Mr. Kaiser is watching for developments that could get traditional mining investors excited about the group again. Mr. Kaiser identifies two key investing audiences for junior mining.

INK Canadian Insider Index rallies 2%, looks to head higher

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The Index finished hammering out a bottom at the 1120-1125 level (completing what looks like a triple bottom) in the first day or two of last week. The INK Canadian Insider Index then raged 23 points higher by week's end for a gain of 2%, closing at 1146.95, just off its highs.

Sorry shorts, housing finance stocks make a comeback

Have we reached peak housing pessimism in Canada? The word has been out on the street now for months that mortgage growth has slowed, giving investors plenty of opportunity to sell their financial stocks and head for other areas. But, has most of the bad news been factored into prices? The answer may be yes given some of the new additions to our April INK Top 40 (available for Canadian Insider Club members).

First National is trading near 52-week highs (click for larger).

High profile lender Home Capital Group (HCG) joined the list along with lender First National Financial (FN). For investors, who find the Home Capital story too risky, First National may provide more appeal. Not only does the company focus on the prime mortgage market, but the stock also offers a prospective annual dividend yield of 6.1% giving investors a bit of a safety cushion. The stock is a member of the INK Canadian Insider Index.

Insights: A real rally requires some Energy

We have just published our April 1st Insights A real rally requires some Energy. We are a bit later than usual this week as we have been busy rolling out and working on lots of new features for our INK Research and Canadian Insider users. Last week, on Canadian Insider we introduced INK Edge outlooks along with a new look for our company pages. Over at, we have been implementing a faster SEDI feed that delivers more frequent filing updates and alerts. We are going to be making some big changes at Canadian Insider on that front as well, so stay tuned!

As for this week's newsletter, we zero in on the oil patch which is a bright spot in terms of insider sentiment. Don't forget, if you want to receive the newsletter in PDF format via email, you can do that in your alert settings if you are a Canadian Insider account holder. If you are not already a member, sign up here.

INK Canadian Insider Index drops 9.6 points to 1123.95

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index began with strength early but could not move above 1140 and ultimately, closed down 9.6 points or 0.8% to finish at 1123.95.

New value-added features on Canadian Insider

We have reworked the company pages on Canadian Insider, and they include two new value-added features. First, we now show INK Edge outlooks for all Canadian and US stocks that we rank. For a stock to rank, it typically needs to have a market cap of over $25 million and a trading history of at least 6 months.

INK Edge outlooks and short data now on Canadian Insider

The INK Edge process is 100% data-driven with no subjective input from INK analysts. That means no stock promotions. Canadian Insider is supported by our Canadian Insider Club subscribers and we do not accept payments from companies or their promoters for coverage or ratings.

US transports insider sentiment is sinking again

In our March 27th INK subscriber US market update, we noted the divergence in insider sentiment between the Oil & Gas Exploration and Production (E&P) industry and the Industrials sector. The former was behaving in a bullish fashion and remained at a healthy level with our indicator above 100%. That means there are more stocks in the group with key insider buying that selling. In contrast, sentiment in the Industrials was depressed, with our sector indicator in the danger zone below 20%. Industrials insiders were taking money off the table while E&P insiders were adding to their positions.

US transportation stock insider sentiment is at a depressed level

The Industrials sector is home of transportation stocks, a group followed by many market participants. Drilling down to this industry level, we see that insiders in transportation stocks are in profit-taking mode. In fact, our Transportation Indicator is back to the depressed levels we saw early last fall, right around the time the iShares Dow Jones Transportation ETF (IYT) peaked.

Trump nominee Moore has a point: Focus on commodity prices

(Updated with chart) - Trump perma-critics should take a step back from their criticism of his nominee Stephen Moore. The latest attacks against Moore evolve around an opinion piece in the Wall Street Journal suggesting that the Fed focus on targeting stable commodity prices. If one believes that the Fed should be targeting consumer price inflation, a concept that is debatable on its own, focusing on commodity price inflation makes more sense than promoting asset inflation which is what the Fed, the Bank of Canada and other central banks have been doing for the past decade. 

Stephen Moore: Fed should seek stable commodity prices (picture Gage Skidmore)


Moreover, where have the Moore critics been as central banking made a mess of asset markets while implementing policies that undermined their cherished goal of reaching 2% consumer price inflation?


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